First Circuit Upholds Confirmation of Puerto Rico’s Debt Adjustment Plan

May 5, 2022

First Circuit Upholds Confirmation of Puerto Rico’s Debt Adjustment Plan

Federal preemption allowed rejection of the defined benefit pension plan for Puerto Rico’s teachers.

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Opinion Link

View Opinion

https://abi-opinions.s3.amazonaws.com/Puerto+Rico+Confirmation.pdf

Case Details

Case Citation

Federacion de Maestros de Puerto Rico v. Financial Oversight and Management Board for Puerto Rico (In re Financial Oversight and Management Board for Puerto Rico), 22-1080 (1st Cir. April 26, 2022).

Case Name

Federacion de Maestros de Puerto Rico v. Financial Oversight and Management Board for Puerto Rico (In re Financial Oversight and Management Board for Puerto Rico)

Case Type

Court

1st Circuit

Bankruptcy Tags

Plan Confirmation

Municipal Bankruptcy

Puerto Rico